PATIENCE, AND A GOOD START TO MAY

Often we will try evening trades to practice patience.  Per the last post, it's a personal item to improve, and it should be practiced to improve trading.

May started in a positive fashion.  The market was showing weakness, shorts began to enter.

[18:37] <Chartmaster> mkt open showing weakness 62.5 tgt for shorts

and

[19:38] <Chartmaster> 64 retest
[19:39] <Chartmaster> longs entering

click to enlarge

There are many so-called "gurus," blogger, and chart posters that love to talk about this signal or that signal.  Yet, sadly, they never seem to post any trades or perhaps post after the market closes, and then the commentary focus is on coulda shoulda.  They spend all day talking about the game, or commenting about third party trading, but never show you anything.

You have a choice.  Talk, or walk.  Nothing wrong with talk.  Some find it entertaining, or feel a sense of "community."

But if you want to walk, your focus as a trader should be the same as all other traders.  What works for you?  You will not know until you practice.  Keep a log of your trades.  Knowing what to avoid is far more important that what should work.  If you can  read a chart and say "that's a bad trade, or wrong place to enter" then your ahead of many traders.

You can practice numerous trades.  Select the few, from your data, that work best for you.  Then practice again to perfect those trades.

Traders are developed over time and markets.  Does your techniques work in bull and bear, winter and summer?  It doesn't happen in a week or month.

PATIENCE.  A very important word.